UGA vs. BPH

Last updated Jun 5, 2026

UGA (United States Gasoline Fund LP) and BPH (BP p.l.c. ADRhedged ETF) are both Oil & Gas funds. UGA is passively managed, while BPH is actively managed. At a 0.43 correlation, their price movements are largely independent. UGA charges 0.75%/yr vs 0.19%/yr for BPH.

Performance

UGA vs. BPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United States Gasoline Fund LP (UGA) and BP p.l.c. ADRhedged ETF (BPH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UGA

• 1D: -2.73%
• 1M: -12.25%
• YTD: 70.69%
• 6M: 59.72%
• 1Y: 79.48%
• 3Y*: 20.80%
• 5Y*: 24.41%
• 10Y*: 14.27%

BPH

• 1D: 0.38%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UGA vs. BPH - Yearly Performance Comparison

	2026 (YTD)
UGA United States Gasoline Fund LP	-2.80%
BPH BP p.l.c. ADRhedged ETF	3.22%

Correlation

The correlation between UGA and BPH is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	0.43

Return for Risk

UGA vs. BPH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UGA

UGA Risk / Return Rank: 70
UGA Sharpe Ratio Rank: 71
UGA Sortino Ratio Rank: 58
UGA Omega Ratio Rank: 62
UGA Calmar Ratio Rank: 89
UGA Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UGA vs. BPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Gasoline Fund LP (UGA) and BP p.l.c. ADRhedged ETF (BPH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	UGA	BPH	Difference
Sharpe ratio: Return per unit of total volatility	2.27	—	—
Sortino ratio: Return per unit of downside risk	2.71	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	5.37	—	—
Martin ratio: Return relative to average drawdown	12.86	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UGA	BPH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	9.79	-9.68

Drawdowns

UGA vs. BPH - Drawdown Comparison

The maximum UGA drawdown since its inception was -86.59%, which is greater than BPH's maximum drawdown of -2.35%. Use the drawdown chart below to compare losses from any high point for UGA and BPH.

Drawdown Indicators

	UGA	BPH	Difference
Max Drawdown Largest peak-to-trough decline	-86.59%	-2.35%	-84.24%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-26.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-75.89%	—	—
Current Drawdown Current decline from peak	-14.75%	0.00%	-14.75%
Average Drawdown Average peak-to-trough decline	-36.76%	-0.93%	-35.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	—	—

Volatility

Volatility by Period

	UGA	BPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	30.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.27%	23.51%	+11.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.40%	23.51%	+10.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.27%	23.51%	+13.76%

UGA vs. BPH - Expense Ratio Comparison

UGA has a 0.75% expense ratio, which is higher than BPH's 0.19% expense ratio.

Dividends

UGA vs. BPH - Dividend Comparison

Neither UGA nor BPH has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UGA and BPH in my portfolio?

UGA and BPH have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UGA or BPH?

On fees, BPH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UGA or BPH?

BPH is cheaper with a 0.19% expense ratio, compared with 0.75% for UGA.

Which ETF pays a higher dividend yield, UGA or BPH?

UGA and BPH have nearly identical dividend yields, around 0.00%.

What is the main difference between UGA and BPH?

They also come from different issuers: Concierge Technologies and Precidian. Their fees differ too: 0.75% for UGA and 0.19% for BPH.